Life insurance

Discussion in 'Off The Beaten Track' started by nlloyd, Feb 15, 2013.

  1. nlloyd

    nlloyd Active Member

    Joined:
    Oct 20, 2005
    Messages:
    261
    I am looking at purchasing life insurance independently from work-related plans and wondered whether people had suggestions. I am based in Canada and am looking for a decent, honest life insurance broker, but general advice on life insurance would also be useful.

    I am on a tight budget, so am looking at term policies rather than the more expensive permanent, whole life, universal etc. ones. I think that if I can pull off a 20-year or 30-year term, which would take me into retirement, that would be good. (Once a policy expires and you find yourself past a certain age, the rates go up exponentially).

    Guaranteed renewal (at a particular rate without another medical exam) is probably important in the event that life circumstances render renewal necessary. One can also convert to a whole life, universal etc. policy with many term policies (convertibles) which may be a good idea, although the latter option is quite expensive.

    Anything else to consider? Any suggestions regarding how to find a reliable broker?